Quarterly Activities Report
Sydney, Oct 30, 2018 AEST (ABN Newswire) - Kingston Resources Limited (
ASX:KSN) (Kingston or the Company) is pleased to provide an update on its September quarter activities. The quarter saw the completion of the Joint Venture earn-in at Misima with the Company now holding 70% of the project.
Highlights
- Misima earn-in completed; KSN now owns 70% of Misima Gold Project
- Misima regional exploration program delivers further success at Ginamwamwa and Ara Creek
- Excellent results from second round of Livingstone drilling
Exploration work was also ongoing at both the Company's gold projects:
- Following the successful reconnaissance drilling at Livingstone in Western Australia, Kingston commissioned a second round of approximately 7,000m of air-core drilling in the Livingstone's Find area. This program was concluded early October.
- Ongoing field work at the Ginamwamwa discovery at Misima resulted in the identification of coarse visible gold at surface, while mapping continued to increase the scale of the discovery further east. During the quarter the Kingston team completed 1,793m of trenching.
- Diamond drilling has been ongoing at Misima throughout the quarter, continuing to test extensional targets along the Umuna Shear. Drilling through the quarter was impacted by mechanical issues. The drilling contractor has worked to resolve the issues and more recent drilling performance has improved.
Kingston MD Andrew Corbett said "The September quarter has seen strong progress made at Livingstone with early results received from the latest drilling looking very encouraging, we expect to report more results shortly. At Misima, the KSN team on the ground has continued its great work at Ginamwamwa and Ara Creek. As more work is done on these prospects they are both looking increasingly exciting. The drill program is ongoing with the focus on extending the already significant 2.8Moz resource^."
Kingston concluded the quarter with $5.0m cash. During the quarter the completion of the lithium asset sale saw Kingston's cash balance boosted by $1.8m.
To view the full report, please visit:
http://abnnewswire.net/lnk/CZU51JAM
About Kingston Resources Limited
Kingston (ASX:KSN) is a metals exploration company. Currently the Company's priority is the world-class Misima Gold Project in PNG, which contains a JORC resource of 2.8Moz Au, a production history of over 3.7Moz and outstanding potential for additional resource growth through exploration success. Kingston currently owns 70% of the Misima Gold Project.
In addition, Kingston owns 75% of the Livingstone Gold Project, WA which holds a 50koz resource and is the site of ongoing exploration and a number of high-grade historic intersections.
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